Will consolidating my debt effect my credit
Date: Tue, 12/12/2006 - 11:34
As of right now, my credit score is pretty high. I am concerned that consolidating my debts will effect my score.
Have you called your creditors and proposed any payment plan?
Have you called your creditors and proposed any payment plan?
You may Do it yourself and arrange better payment plan at lower interest rate.
If you are unable to do this, you are afraid of missing the payments because of high interest rates. In that case, the credit scores will go down.
debt consolidation will act as a repair to the situation. This will be reported in your file as long as you are using the program. Once done, it will be taken off. And, this is good when you want to keep your credit rating in shape.
